How is the market in Burnsville?

There were 541 closed sales in Burnsville in 2010. Compared that to 641 closed sales in 2009. That is a 15.6% drop in closed sales. In 2009, the average sale price is $185,646. In 2010, the average sale price is $180,149. That is a 3% drop in average sale price. In 2009, the average day on the market until sale is 141 days. In 2010, the average days on the market before sale is 131 days. That is a 6.6% drop in days. In 2009, the percent of original list price recieved at sale was 92.7%. In 2010, it was 91.4%. What does all of this mean? Although the media is saying prices of homes are falling around 10-15%, in reality, it's really not. The sale price only drop about 3% in Burnsville and the number of days to sell took 10 days less. If you had offer on a home that was listed for $100,000, chances are, you could have bought for 91,400. There are some gems out there. The investors are out in full force to take advantage of this buyer's market. A lot of the realtors that were selling back in 10 years ago are saying that the prices today are about the same as in 1999 or 1998. Remember, the real estate boom started about in 2000 and continue until about 2007. If you bought prior to 2000, you probably got a deal. If you bought after 2000, you probably paid too much. In any case, now is a good time to buy because everything is low anywhere here in the Twin Cities. You can actually cash flow. Interest rates are also low. This is an investor's dream.